No, it just means that I have crew for jobs like these that knows their stuff.
500K lines is 'small' by our standards and if we are not moving within two weeks that translates into one very unhappy customer. That's something a typical team of 5 to 10 people has produced in a few years.
Note that I wrote 'incremental' and 'starting'. That doesn't mean the job is finished at that point in time. But we should have a very solid grasp of the situation, which parts are bleeding the hardest and what needs to be done to begin to plug those holes. That the whole thing in the end can become a multi-year project is obvious, we're not miracle workers, merely hard workers.
In a way the size of the codebase is not even relevant. What is most important is that you get the whole team and the management aligned behind a single purpose and then to follow through on that. Those first couple of weeks are crucial, they are tremendously hard work even for a seasoned team that has worked together on jobs like these several multiple times.
The one case I wrote about here was roughly that size (so small by my standards), within 30 days the situation was under control. We're now two years later and they are still working on the project but what was done in that short period is the foundation they are still using today.
If a project is much larger than that then obviously it will take more time. Just the discovery process can take a few weeks to months, but in that case I would recommend to split the project up into several smaller ones that can be operated on independently with 'frozen interfaces' where-ever they can be found.
That way you can parallelize a good part of the effort without stepping on each others toes all the time.
The problem is not that you can't tackle big IT projects well. The problem is that big IT projects translate into big budgets and that in turn attracts all kinds of overhead that does not contribute to the end result.
If you strip away that overhead you can do a lot with a (relatively) small crew.
If you're going to tackle a code base in excess of something 10 M loc in this way you will again run into all kinds of roadblocks. For those situations it would likely pay off to spend a few months on the plan of attack alone.
If a project that large came my way I would refuse, it would tie us down for way too long.
But that's out of scope for the article afaic, we're talking about medium to large project, say 50 manyears worth of original work that has become unmaintainable for some reason or other (mass walk-out, technical debt out of control or something to that effect).
If those are 'very very small projects' by your standards than so be it.